Sierra Ocean LLC Invests $32,000 in Tyler Technologies, Inc. (NYSE:TYL)

Sierra Ocean LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56 shares of the technology company’s stock, valued at approximately $32,000.

Several other large investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd bought a new position in Tyler Technologies during the fourth quarter worth $105,549,000. Finally, FMR LLC boosted its stake in Tyler Technologies by 94.1% during the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after acquiring an additional 52,984 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TYL shares. Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Robert W. Baird raised their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Barclays raised their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now owns 12,198 shares of the company’s stock, valued at $7,709,257.98. The trade was a 17.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $18,941,368 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Down 0.2 %

TYL opened at $640.13 on Wednesday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company’s 50-day moving average is $596.62 and its 200 day moving average is $594.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $27.40 billion, a P/E ratio of 116.81, a PEG ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Research analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.